So you're a fan of data, that's fair enough. Who isn't a fan of data? The issue is, who owns and controls that data? You, the true owner and source of the data, or some big advertising-driven tech giant with it's own crappy hollywood movie?
Not only that, but in order to make money from advertising, they link all this wonderful data (your data) with advertiser interests. Much of this linking is done under the radar, via rules you are not allowed to see.
It's very important to distinguish the benefits of shared data with ownership and control of the data, and the rules by which it is mined and accessed.
BTW, a lot of Facebook data is "self-expression" and if given the choice in real-time, many people would elect for NOT for their contribution to go into the tech-giants mainstream database. Going into "settings" and messing around with broader privacy options for content types and particular people is an absolute joke in terms of UX and human experience in relation to expressing personal views or communicating with friends.
"Privacy settings" does not come naturally in communication. Facebook knows this, and knows people will not bother or become lazy with privacy.
Bottom line is, Facebook is an inappropriate platform for the collected data that is your life.